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The Financial Services Authority stunned the City yesterday by publicly
censuring the chief executive of Prudential and fining the company £30
million for failing to tell it about the $35.5 billion bid for AIA in 2010.

The FSA’s unusual decision to issue a personal rebuke against Tidjane Thiam
comes three years after the Pru’s audacious, unsuccessful swoop on the Asian
division of AIG.

Critics of the regulator said it was “bizarre” that the Prudential boss had
been targeted when many bankers, including senior employees at bailed-out
institutions such as Royal Bank of Scotland, Lloyds and HBOS, had not been
punished